Pamlico Capital Enters Agreement to Sell Wilcon

April 17, 2017

Pamlico Capital (“Pamlico”), a leading middle market private equity firm focused on growth oriented businesses, announced today that Crown Castle International Corp. (NYSE: CCI) (“Crown Castle”) has entered into an agreement to acquire Wilcon Holdings LLC (“Wilcon” or the “Company”) for $600 million (subject to limited adjustments).

Founded in 1998, Wilcon is the premier West Coast provider of best-in-class fiber and data center infrastructure solutions helping to enable the digital future of our service provider and enterprise customers. Pamlico acquired Wilcon in partnership with management in 2012, and has supported the Company’s various initiatives over the last five years, including building out an impressive management team, completing the highly strategic Freedom Dark Fiber Networks acquisition in 2013 that expanded the Company’s fiber footprint in the Southern California market, and expanding the Company’s product offerings and addressable market through the “lighting” of the network.

"Pamlico has been a great partner to Wilcon over the past five years and enabled us to expand our fiber footprint and enhance our product offering to better serve the Southern California market,” said Jon DeLuca, Wilcon’s Chief Executive Officer. “We have truly enjoyed our partnership with Pamlico and are excited to be a part of Crown Castle and further expand our capabilities for our valued customers in our next phase of growth.”

“We have enjoyed partnering with Jon DeLuca and his team as they significantly increased the Company’s fiber footprint, completed a strategic acquisition, and enhanced the Company’s value proposition to its customers, and successfully scaled the business during our ownership,” said Scott Stevens, a Partner at Pamlico.

“Wilcon was a great investment for Pamlico, our limited partners, and most importantly the Wilcon management team. We appreciate Jon and his team’s efforts on behalf of Pamlico and wish them continued success under Crown Castle,” said Walker Simmons, a Partner at Pamlico.

The closing of the transaction, which is expected to occur in the third quarter of 2017, is subject to the satisfaction of customary closing conditions, including, among others, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, all as determined in accordance with the merger agreement.

Wilcon and Pamlico were advised by The Bank Street Group LLC (financial advisor) and Alston & Bird LLP (legal advisor).